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February 13th, 2011

Weekly Recap (02/07/11-02/12/11)



Flipping CalenderSaturday

5 costly reverse mortgage mistakes

Taking on a reverse mortgage can be a smart move or a financial disaster, depending on the type of loan and your circumstances. Avoid these mistakes to make a reverse mortgage a smart move.

Mistake #1: Taking out the wrong mortgage

What’s the best mortgage for you? The one that accomplishes your objectives at the lowest cost. Here, in order of cheapest to most expensive, are home equity financing options for seniors…


Is it time to kill HAMP?

You would be pretty hard-pressed to find a market observer out there who is impressed with the strides the Home Affordable Modification Program (HAMP) has made since it was introduced in February 2009. I’ve often been extremely critical of its success, or lack thereof, and the money we’re spending, or wasting, on its behalf. For one, I get especially irritated when Washington forgets about HAMP’s original goals and functions and tries to turn nothing into something


Treasury’s reform proposal for Fannie, Freddie could arrive Friday

Opinions on what to do with Fannie Mae and Freddie Mac run a range from eliminating them swiftly and entirely, to gradually reducing their lending power and influence over the entire mortgage market.

On Wednesday, House Republicans held a hearing to debate the future of the GSEs ahead of the Treasury’s proposal, which is now expected as early as Friday. While there are conflicting opinions in terms of how Fannie and Freddie should be dealt with, I think everyone agrees that they need to be dealt with. I believe we can expect to see at least two major reforms that everyone can agree on…


Will mortgage rates rise over the next two months?

For mortgage shoppers — whether those buying homes or refinancing their current loans — locking in the lowest mortgage rates is always one of (if not) the biggest concern. According to a recent survey conducted by MortgageMatch.com, “two out of three Americans (70.6%) believe access to affordable mortgages is a serious problem.”

Nearly a third of the survey’s respondents said that one of President Obama’s “top priorities to help homeowners in 2011″ should be to keep interest rates low. With little indication that the administration will release a new program to keep mortgage rates low, homebuyers and refinancers need to be aware of where mortgage rates are headed in the future. That’s precisely why HSH.com developed their “Two-Month Forecast for Mortgage Rates“…


House hearing tomorrow on Fannie, Freddie’s future

Republican lawmakers have been making quite a bit of noise recently, calling for shakeups of certain government policies as they pertain to Washington’s involvement in the mortgage and housing markets. Rightfully so if you consider the mounting tab taxpayer are covering to support a government-controlled Fannie Mae and Freddie Mac as well as failing foreclosure-prevention efforts like HAMP. The latest “ruffling” comes in the form of a hearing to be held tomorrow to discuss the future of Fannie and Freddie and perhaps jump-start their reform…


It’s hard for future predictions to improve the present

In the latest issue of our Market Trends Newsletter, HSH.com’s VP Keith Gumbinger provided a great analogy between the future of winter-weather conditions and the outlook for our nation’s economy. Even though the famous prognosticator Punxsutawney Phil predicted a shortened winter with milder conditions ahead, it still doesn’t change the fact that many parts of the country are presently waking up to below-freezing temperatures and mountains of snow on their sidewalks and lawns.

The same applies to the current and future state of the economy. Sure, economically speaking, things are predicted to get better as time goes on, but that still doesn’t change the fact that presently things are moving along (perhaps painfully) slowly

One Response to “Weekly Recap (02/07/11-02/12/11)”

  1. Tweets that mention Weekly Recap (02/07/11-02/12/11) | HSH Financial News Blog -- Topsy.com Says: February 13th, 2011 at 8:54 am

    […] This post was mentioned on Twitter by HSH Associates, Roberto Mazzoni. Roberto Mazzoni said: Weekly Recap (02/07/11-02/12/11): Saturday “5 costly reverse mortgage mistakes“ Taking on a reverse mortgage can… http://bit.ly/eF9viP […]

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

Our bloggers:

Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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